First Mariner Bancorp

A regional Pennsylvania bank submitted the highest bid at the auction for Baltimore's 1st Mariner Bank in a deal that must still be approved by a federal bankruptcy court judge and banking regulators.

National Penn Bank offered $19.1 million for 1st Mariner at Thursday's auction, topping a competing bid from a group with local ties led by New York-based Priam Capital LLC, according to a filing in the bankruptcy of bank parent First Mariner Bancorp.

A hearing is scheduled for Monday in Baltimore's U.S. Bankruptcy Court for a judge to rule on the outcome of the auction after hearing any potential objections from creditors of First Mariner.

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A regional Pennsylvania bank submitted the highest bid at the auction for Baltimore's 1st Mariner Bank in a deal that must still be approved by a federal bankruptcy court judge and banking regulators.
National Penn Bank offered $19.1 million for 1st...

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